Published: May 12, 2021 By Alex Keown
Shanghai continues to be an area of focus for many pharmaceutical companies seeking a toehold in China. Companies like AstraZeneca, Novartis and others have opened offices in Shanghai. Two months ago, Germany’s Vetter, a contract development and manufacturing organization, opened offices there, and now, ITM AG, another Germany-based company is following suit. ITM AG established a subsidiary in Shanghai to accelerate introduction of its precision oncology portfolio in China.
The subsidiary will expand ITM’s growing operations in China, which is a key emerging market for novel radiomolecular precision oncology. The ITM Shanghai team will focus on expanding and accelerating access of targeted therapeutic and diagnostic radiopharmaceuticals for Chinese patients.
Phico Therapeutics gains £13.1m grant to advance antibacterial therapy
19th April 2021
Cambridge, UK-based Phico Therapeutics has been awarded a grant of up to £13.2m ($18.2m) to take its lead antibacterial therapy through Phase I clinical trials.
The grant comes from Combating Antibiotic Resistant Bacteria Biopharmaceutical Accelerator (CARB-X), a global non-profit partnership seeking to accelerate antibacterial research against the growing threat of drug-resistant bacteria.
The funds will be used to support the advancement of Phico’s lead product – SASPject PT3.9 – through clinical trials, with £3.8m available immediately and a further £9.4m contingent on reaching certain project milestones.
Phico’s SASPject PT3.9 is designed for the intravenous treatment of hospital infections caused by the bacterium
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